3D Bioprinting Market Anticipated to Reach Over USD 1.8 Billion by 2028 – Exclusive Report by Vantage Market Research
Vantage Market Research
8 min read
WASHINGTON, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The Global 3D Bioprinting Market size is expected to reach over USD 1.8 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 13.6% during the forecast period of 2022 till 2028.
Market Synopsis
The market growth is owing to a definite number of organ donors, and a rising aging population with diseases related to chronic respiratory. Increasing Research & Development (R&D) investment, rising prevalence of chronic diseases, and technological advancement are other impacting factors, likely to fuel growth of the market during the coming years in forecast period, states Vantage Market Research, in a report, titled “3d Bioprinting Market by Technology (Inkjet-based, Magnetic Levitation, Syringe-based, Laser-based), by Application (Medical, Dental, Biosensors, Consumer/Personal Product Testing), by Region (North America, Latin America, Europe, Asia Pacific) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the 3D Bioprinting Market:
Envisiontec, Inc.
Organovo Holdings, Inc.
Inventia Life Science PTY LTD
Poietis
Vivax Bio
LLC
Allevi
Cyfuse Biomedical K.K.
3D Bioprinting Solutions
Cellink Global
Regemat 3D S.L.
Market Dynamics:
Driver: Rise of COVID-19 Cases
Recent pandemic caused owing to coronavirus breakdown and has taken hold over the world, even developed nations are seeing their healthcare systems overburdened and fatigued. Therefore, as a reaction to the increasing cases of COVID-19, several communities associated with 3D Bioprinting are responding to the crises by providing their respective abilities to ease the stress on the governments and supply chain worldwide.
As the cases are rising every day, there has been lack of materials for the professional in medical industry and for the general people. One of the greatest issues is the shortage of test kits available for COVID-19. Therefore, several 3D bioprinting market players are making 3D printers and associated software on large scale.
Driver: Development of Vaccine and Drug Testing
The COVID-19 pandemic has also facilitated the development of vaccine and drug testing, since, scientists (in patients) are harnessing new technology after preclinical trials are completed for safety-testing. With the ever-growing cases of coronavirus, the medical industry is also facing lack of ventilators and respirators. This 3D bioprinting technology is allowing manufacturing of ventilators and respirators to overcome the lack of these devices. Several biotherapeutic players are using this technology to promote COVID-19 research.
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Regional Trends
North America is likely to witness an upward growth for 3D Bioprinting market during the forecasted period. The government of nations is spending more on the R&D, in order to come up with an antidote for this condition. Owing to this factor, there is a rising demand for this 3D bioprinting since, it has been reconnoitred for organ transplantation and drug testing.
Recent Developments
Sep, 2020: CELLINK launched its newly developed BIO X6, which is a six-printhead bioprinting system that allows the combination of various materials, tools, and cells. It also offers an intelligent exchangeable printhead system backed by CELLINK’s patented Clean Chamber Technology. This product may help to enhance advanced research and clinical applications.
Jan, 2020: 3D Systems and CollPlant Biotechnologies announced a joint development agreement to play a pivotal role in advancing and accelerating innovations in the biomedical industry. This alliance may be focusing on the development of regenerative medicines with the help of 3D bioprinting.
Dec, 2019: CELLINK, a Swedish 3D bioprinter manufacturer collaborated with microgravity manufacturer, Made in Space, with the aim to identify 3D bioprinting development opportunities for the International Space Station (ISS).
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the 3D Bioprinting Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Which regional market will show the highest and rapid growth?
Which are the top five players of the 3D Bioprinting Market?
How will the 3D Bioprinting Market change in the upcoming six years?
Which application and product will take a lion’s share of the 3D Bioprinting Market?
What is the 3D Bioprinting market drivers and restrictions?
What will be the CAGR and size of the 3D Bioprinting Market throughout the forecast period?
This market titled “3D Bioprinting Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Report Attribute
Details
Market Size in 2021
USD 1.5 Billion
Projected Market Size in 2028
USD 1.8 Billion
CAGR Growth Rate
CAGR of 13.6% from 2022–2028
Base Year
2021
Historic Years
2016 – 2020
Forecast Years
2022 – 2028
Segments Covered
Technology: - Inkjet-based, Magnetic Levitation, Syringe-based, Laser-based, Others
Application: - Medical, Dental, Biosensors, Consumer/Personal Product Testing, Bio inks, Food and Animal Product, Others
Quantitative Data - Units
Revenue in USD Million/Billion and CAGR from 2022 to 2028
Regions Covered
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Report Coverage
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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